Amendment Paper No 20 to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill – Bill commentary
Amendment Paper No 20 contains further measures to be added to the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill.
Amendment Paper No 20 would:
- restore the ability to claim interest deductions for residential investment properties
- repeal the current ten and five-year bright-line tests and replace with a two-year bright-line test
- remove the ability to depreciate commercial buildings
- improve the tax treatment of the disposal of trading stock at below market value
- introduce a new gaming duty
- introduce a transitional rule relating to platform economy rules.